Marts fear cliff
The stock markets, which closed early yesterday, fell amid concern Congress will fail to act in time to avoid the fiscal cliff. Markets are closed today for the Christmas holiday.
NYSE is sued
The New Jersey Carpenter’s Pension Fund, which holds shares in NYSE Euronext, has sued the exchange operator over its proposed $8.2 billion sale to the IntercontinentalExchange, saying the deal undervalues the company’s stock.
Instagram hit
Facebook’s Instagram photo-sharing service has been hit with what seems to be the first civil lawsuit from changed service terms that prompted howls of protest last week.
RIM in a pickle
Research In Motion’s pricing power with carriers shows signs of slipping after the BlackBerry maker was forced to cut subscriber service fees as demand for its smartphones in emerging markets slows.
Google TVs
LG Electronics, the second-largest Korean electronics maker, is unveiling two new television models based on Google’s software.